“The relative strength index has witnessed a bull flag breakout – a bullish continuation pattern – which indicates BTC could soon pick up a strong bid and jump to the inverse head-and-shoulders neckline of $6,715,” according to CoinDesk. “Acceptance above that level would open the doors to $7,500 (target as per the measured height method).”
A poll conducted by Gallup-Wells Fargo revealed that 72% of U.S. investors have no interest in ever buying Bitcoin, while 2% currently own the cryptocurrency and 26% are on the fence.
“BTC remains on the hunt of the inverse head-and-shoulders neckline resistance of $6,715. A bullish breakout, if confirmed, would validate the bearish-to-bullish trend change suggested by the 4-hour chart and allow a sustained move above $7,000,” reports CoinDesk.
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